The Central Bank of Nigeria (CBN) has issued a stern caution to the public regarding fraudulent SWIFT messages and false allegations of foreign currency transfers purportedly withheld by Nigerian banks or the apex bank itself.
In a statement signed by Hakama Sidi Ali, the acting director of corporate communications, the CBN highlighted a rise in petitions from individuals, law firms, government agencies, and private entities claiming that foreign currency funds sent to their accounts remain uncredited.
These claims are often accompanied by forged documents, including SWIFT MT103 and acknowledgment (ACK) copies, which the CBN has described as unverifiable and unreliable.
“The funds referenced in these claims have not been received by the beneficiary banks, making their application to the beneficiaries’ accounts impossible,” the statement read. The bank clarified that these documents cannot be traced on the SWIFT platform, urging Nigerians to exercise caution.
The CBN also clarified its role, stating that it neither provides correspondent banking services for Nigerian banks in foreign payments nor maintains accounts for private businesses. “Consequently, the claim that alleged inflows are trapped within the CBN is both spurious and deceitful,” Ali noted.
To address issues of non-receipt of funds, the apex bank advised that the sending bank initiate a formal tracer process to resolve such matters, rather than escalating them to the CBN or law enforcement agencies.
The bank further warned that individuals or organisations found making baseless claims would face legal consequences, as it is prepared to involve law enforcement agencies to investigate and prosecute offenders.
This development underscores the CBN’s commitment to safeguarding Nigeria’s financial system against fraudulent activities and ensuring public confidence in its operations.
 has issued a stern caution to the public regarding fraudulent SWIFT messages and false allegations...){kind=link}